Tekever Raises $580M in Series D Funding at $6.4 Billion Valuation
aiinsider ·
Portugal-based autonomous defense company Tekever has raised $580 million in the first close of its Series D funding round, achieving a valuation of $6.4 billion. The investment was led by UC Investments, marking its first direct investment in Europe, and Baillie Gifford, with Merlyn Advisors joining as a new strategic investor. Existing shareholders including Crescent Cove, Ventura Capital, and Iberis Capital also participated in the financing. Tekever plans to use the capital to support international expansion, manufacturing growth, technology development, and potential acquisitions. The company highlighted that its drones have logged over 50,000 operational flight hours in Ukraine since 2022, leading to significant platform improvements based on frontline feedback. Additionally, Tekever signed a contract worth up to £400 million over ten years to supply AR5 uncrewed aircraft for the British Army’s Project CORVUS. The firm expects additional Series D closings in the coming months as it continues to onboard more strategic investors.
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